Nowadays when you play at pretty much any online casino you’re bound to see popups or banners advertising a ‘FREE up to $1,000 bonus for your first deposit’ or ‘$100 FREE sign-up bonus’. Some of these offers may sound so good that you inevitably end up wondering if they’re too good to be true – and the answer to that isn’t as simple as it seems.
The short version is: Yes, these bonuses and promotions are real – but they almost always have a ‘catch’ to them. Here and now we’re going to give you a rundown of everything you need to know to decide whether or not they’re worth your time.
“What are Casino Bonuses?”
Casino bonuses and promotions are basically incentives that are designed to get players to sign-up, deposit cash, and play as much as possible. That is their goal, and the reason why online casinos are willing to offer them.
Nowadays these bonuses can come in many forms, but the three most common are:
- Deposit bonuses that either give you a fixed amount of free credit when you make a deposit, or a percentage of your deposit. The purpose of this bonus is to encourage players to deposit more cash, and they are typically included as a sign-up or first-deposit bonus as well as in various time-sensitive promotions.
- Cashback that entitles you to receive a certain percentage of your stake back regardless of the game’s outcome. This can help make losses feel less severe, and tempt players to continue playing.
- Free credit or free spins that either directly give you free credit that you can use to play various games, or free spins that are specifically for slot games. In doing so they encourage you to stay at the casino and play more.
A good example of the bonuses online casinos have to offer would be Vavada’s main bonus that it hands out to players for signing up. It includes 100 free spins on their Great Pigsby slot game, a 100% bonus on the first deposit up to $1,000, and a 10% cashback.
On top of that Vavada also has a six-tier, point-based, loyalty program that can unlock other bonuses and privileges. The program will entice players to keep making deposits and playing so they can earn rewards and unlock higher tiers.
The Catch: Wagering Requirements
Up till now casino bonuses probably sound great, but remember that ‘catch’ we talked about right at the start? All the bonuses we’ve discussed so far typically come with one very large catch attached to them: Wagering requirements.
Wagering requirements are basically a condition that states you need to bet the bonus funds a certain number of times before withdrawing any of them as cash. Normally this requirement has a deadline attached to it, such as 7 to 30 days.
Here’s an example of how that works:
- A casino offers you a free $100 sign-up bonus but with a 35x wagering requirement within 30 days.
- The 35x wagering requirement means you need to wager the $100 bonus 35 times – for a total of $3,500 in wagers within 30 days before it can be withdrawn.
- If you’re playing a game with a $1 bet, that means you need to play 3,500 times within 30 days in order to fulfill this condition.
Does that sound like a lot? To be honest this example isn’t that bad. Most casinos attach wagering requirements of anything from 20x to 35x to their bonuses – so it is still within a reasonable range.
What you should be wary of are ‘unreasonable’ requirements, such as a 50x wagering requirements or extremely short deadlines that are under 7 days. High wagering requirements coupled with short deadlines can make it close to impossible to fulfill the conditions – therefore making the bonus almost impossible to claim.
For the most part, wagering requirements aren’t there to ‘trick’ players. Instead, they are designed to ensure that casinos are protected and get the most out of the free bonuses they offer. On your part it is important to read the terms and conditions for any bonus or promotion you’re interested in, and find out what conditions need to be met.
Conclusion: True, but Not Easy
So what do you think, is it too good to be true? Simply put, the bonuses and promotions offered by online casinos are true – but they’re not as easy to claim as they appear due to the wagering requirement ‘catch’ that is attached to them.
Despite that, these bonuses and promotions are a great way to stretch your budget and get some extra value so you can enjoy a few more games. However they are not something you should rely on to get rich quick, and if you want to truly take advantage of them you’ll need to fully understand their conditions, and strategize accordingly.